Bank of America has a very dishonest and greedy practice when handling customer transfers occurring between accounts.
For instance... I accessed my checking account, online, 01/04/06 in order to transfer money from a linked savings account into my checking account. They dated my transfer for 01/05. NOW ONE OF THEM HAS EVEN CLAIMED MY TRANSFER WAS DATED 01/06/ They make up their stories AS THEY GO ALONG.
At the time I transferred money from the savings account, quite naturally it deducted the amount transferred out of the account and immediately updated the balance of the savings account. Also, the balance of my checking account was immediately updated. Right away. No problem. Money's money, correct?
The next afternoon rolled around, I accessed my account in order to set up some online bill payments. Imagine my surprise when I find my account overdrawn because Bank of America PLACED ITEMS {THAT WERE NOT YET EVEN POSTED TO MY ACCOUNT, NOR WERE THEY EVEN IN PENDING}, IN FRONT OF MY TRANSFERRED DEPOSIT!!!
Quite naturally, they placed a larger check that came through in FRONT of not only my transferred amount, but also IN FRONT OF TRANSATIONS that were ALREADY IN PENDING THE NIGHT BEFORE!
This caused at least 3 items to bounce, which THEN because of the extra money STOLEN from my account by Bank of America through their dishonest practice of "add and switch", causing the subsequent NSF charges, there was an ADDITONAL overdraft and NSF charge!!! COURTESY OF BANK OF AMERICA.
OF COURSE, the excuse was that my deposit had been made after the cut off time, and not posted to my account until the FOLLOWING DAY.
THEN, it was that my account "WAS ALREADY OVERDRAWN" (Absolutely NOT true), because "the transactions placed in front of my transfer and the pending and posted items already showing in my acct were already at the bank and 'floating' around not 'hard posted' yet.
WHAT??? What kind of crooked garbage will they think of next to explain their embezzling of customer funds???
As far as i'm concerned, if the money coming out of the savings account was valid enough to be deducted from the savings account immediately, then reflected in my checking account balance immediately, then it certainly is valid enough to not be moved around to suit the profit mongers and crooked powers that be who think up these thieving practices that bank of america thrives on.
It may not seem like much when it is ONE customer, but after they finangle our accounts so higher items arriving AFTER several lower ones are placed in front of something, causing so many overdrafts over a period of time that they are finally making a profit off of those of us who live paycheck to paycheck, because they know that once they begin this vicious cycle of overdrafts, it is vertually impossible for honest hard working individuals to climb back above what Bank of America has stolen from our accts after charging THRITY FOUR DOLLARS each, because Bank of America has finally pushed us into the highest category of overdrafters with their crooked posting techniques.
Doing this to thousands of hard working but financially constricted customers every day certainly gives them quite enough money to fund any huge bonuses the powers that be place in thier own pockets, and no telling how many other perks.
This while those of us who are struggling so hard to get back on top after being ripped of by our BANK are having trouble just putting food on the table for our children and purchasing prescription medications for family members.
BANK OF AMERICA EMPLOYEES ARE SO BRAINWASHED, ALL THEY KNOW HOW TO DO IS SEND AUTOMATED RESPONSES, AND CERTAINLY ARE NOT GOING TO SHOW AN OUNCE OF HUMANITY. After all, it may affect THIER PAYCHECK. OR, maybe like many other companies these days, they just absolutely do not care!!!
They claim they place larger items in front of smaller items because the larger items are potentially "more important and they want to make sure they are paid". BULL.
I will say that most of the items presented have always been paid by Bank of America, "well. Most of the time", BUT that also brings me back to BULL, regarding the placement of larger items in front of smaller ones. This is so blatantly their STORY to cover themselves so they can bounce as many small items as possible, thereby receiving all of those juicy little NSF charges they STEAL out of our accounts. All of these smaller items also aide Bank of America in pushing us into the higher incidence bracket of bounced checks, therefore incurring higher NSF charges... Therefore aiding with the purchase of those nice homes these Banking executives are able to buy. While we struggle to pay our RENT and keep a roof over our heards.
Freedom tommorrow though. I will be moving my account. I've padded bank of america pockets long enough.
T
Valdosta, Georgia
U.S.A.
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